Gialonella v. H.H. Seff Adv. Co. of N.J.

The receiver asks advice and leave to pay certain claims preferentially. The defunct defendant company conducted an outdoor poster advertising business which the receiver continued. The United Advertising Company, similarly engaged, bought the business from the receiver for $106,000, under an offer made by a "dummy," which was approved by the court, February 9th, 1932, after due notice to all concerned. The offer was for all billboards, poster panels and advertising signs at identified locations, representing the outdoor advertising business of the defendant company, and also two roof signs,…